Introducing One-Tap Funds Transfer for ICICI Bank account holders on Dhan

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Hello Traders!

In our short journey of building Dhan over the past 2 years, we havenā€™t just worked on getting the Trading & Investing experience right, but many more things.

Amongst them all - let us talk about the payment experience on Dhan - which is quick, efficient and very user friendly for our users. From making all payments absolutely free of cost (Dhan may be the only Stock Trading platform to do so) to providing easier UPI payments with intent flow, adding money on Dhan is super easy & quick including large fund transfers with Smart Transfer. Dhan possibly may have among the highest success rates in the industry when it comes to payins; not to forget, we are pioneers in introducing fast withdrawals in the stock trading industry to our users. This allows our users to receive credit for their requested withdrawal within minutes of sending the request.

One-Tap Fund Transfer Twitter n
One-Tap Fund Transfer Twitter n3200Ɨ1800 693 KB

While we have done our best to get here, we have continued to wonder how we can get further with even better payment experience to make it quick, convenient and also secure to transfer funds from your Bank Account to trading account on Dhan. We decided to explore this further and realised the best we could do is to partner with a Bank and bring the experience of Instant Funds blocking and transfer to Trading account - much faster and convenience than any payment gateway based experience.

We are thrilled to share that for the very first time, we are LIVE with a One-Tap Instant Fund Transfer on Dhan in partnership with ICICI Bank.

How does One-Tap Instant Fund Transfer work for you

If you are someone who has an ICICI Bank registered with Dhan for trading, then you simply need to:

  1. Initiate a one time linking process between Dhan and ICICI Bank which is limited to just a few authentications from your end which is fully online and done in minutes. Please ensure your location services are on when you do this.
  2. The activation is instant, and gets you started immediately.
  3. Start adding funds to your Dhan account within a single tap every time after without the need for any linking!
  4. Not just that, you can also check the funds in your ICICI Bank from Dhan itself by tapping on the ā€œcheck balanceā€ button. This allows you to accordingly make fund transfer decisions.
  5. Multiple ICICI Banks can also be linked for the One Tap Transfer facility.

Please remember this will only work if you have your ICICI Bank account registered with Dhan. If you have an account but it is not registered with Dhan, we recommend you add it to Dhan as one of your banks and then try using the One Tap Transfer facility. To add ICICI as one of your registered bank accounts, follow this process:

Go to Money > Banks > Add a Bank Account.

With this launch, we have successfully taken another step in the right direction to make trading on Dhan seamless. There is so much more that is in store to make adding funds on Dhan a breeze and ensure it is never a hindrance to your trading plans.

We canā€™t wait for you to try the One-Tap Funds Transfer facility with ICICI Bank on Dhan and hear your experience!

Thanks,
Pranita
Product @ Dhan

9 Likes
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Hi Team - Whatā€™s the max and min amount limit for this one-tap funds transfer please?

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Hey @pratik01 ,

Min amt is Rs 100 which is common across all modes of payin and max amt is 5 cr.

Thanks,
Pranita
Product @ Dhan

3 Likes
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Does the amount gets debited or just remains blocked like ipo

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Hey @krishag ,

The amount will get debited from your bank and get credited to your Dhan trading account.

Thanks,
Pranita

1 Like
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No issue. Still a great feature. Probably one of its kind for non banking broker.

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Every feature a complete customer lifecycle management is neeseery.
So please provide deactivation of this feature in Dhan app also.
Overall it great :+1::smiley: feature first in the industry. @Pranita

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Yes deactivation option is a must. From dhan end and icici bank side as well. Incase icici is setting up a mandate feature for this, then mandate can be canclled via netbanking during working hours. But cancellation from dhan app is also equally important

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I have enabled this feature but looks like it is not active yet, could you check.

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Greatā€¦Though as traders we love to take out than put in :laughing: this feature is a great addition to Dhan platform.

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Well @t7support We understandā€¦ which is why Faster Withdrawals came before Fast Pay :slight_smile:

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But we are limited to only one withdrawal every 24 hrs and withdrawal request cannot be canceled after 60 seconds.

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Dhan knows the :heart: of us traders :hugs:

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Hi @Champion_Trader Yes, unlike platforms who do withdrawals in batches and keep taking requests and process them offline in batches, we have automated them with internal processes and systems. We can process one request at a time, and once in a day.

These are the choices we have to make. While they will work for 99% of times there will always be an exceptions or edge-cases that we may not be able to solve for. If there will be room to improve these, we will evaluate and explore.

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Thank you for responding @PravinJ . While itā€™s acceptable that fund withdrawals are limited to once every 24 hours, the inability to cancel a withdrawal request after 60 seconds poses an issue. This restriction becomes problematic when I spot a promising trading opportunity after initiating a withdrawal, as I cannot execute the trade (due to blocked funds from the withdrawal request) nor cancel the withdrawal (since it can only be canceled within 60 seconds).

1 Like
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What about withdrawals?

It seems it or you guys ended up creating a new insta savings account.

Does it need any minimum balance?
Are there any transaction charges?

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Hey @Mahesh_A ,

We have just tied up with your existing ICICI bank account, and do not create any new savings account for the one tap transfer facility. Withdrawals will work the same way that they always have where we already provide Fast Withdrawals to our users via which funds are credited to userā€™s bank accounts within 15 min .

Thanks,
Pranita
Product @ Dhan

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Ok thanks

Please remove minimum characters limit :smiling_face_with_tear:

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is icici bank current account supported ?